Disbursement Options

Disbursement Options

You have three options to select how you wish to receive your financial aid refund disbursements. Your selection is called your “refund (disbursement) preference” and you must select one option.

Carefully read through all of the information for each option and make the selection that is best for you. You can update your refund (disbursement) preference at any time by visiting saddlebackcard.higheroneaccount.com/.

OneAccount
The OneAccount is a free checking account that you open with HigherOne linked to your Saddleback DEBIT CARD. With the OneAccount you can use your Saddleback Debit Card for purchases anywhere that Debit MasterCard is accepted.

If you choose this option, your refund/disbursement is available the following business day after Saddleback sends the funds to HigherOne. This is the first day of each quarter for students who have an active award, are in good academic standing and finalized their class schedules one week prior to the quarter start.

There may be fees associated with the OneAccount, including PIN based transaction fees. Use the “swipe and sign” method when making purchases. Swipe your card, select the “credit” option and sign your receipt. It will still be used as a debit card, but without fees. Review HigherOne Fee Schedules to learn more about fees associated with the OneAccount and its services.You are not required to select the OneAccount to receive your financial aid refund/disbursement. You only open the OneAccount if you want to have your disbursement available on your DEBIT CARD.

Transfer to Your Existing Checking Account
You may request to electronically deposit your financial aid refund/disbursement to your existing bank account. Visit saddlebackcard.higheroneaccount.com/ when you receive your card and select “Automated Clearinghouse (ACH) Transfer” during the card activation process. There is no charge for receiving your refund/disbursement this way. You will have to complete, print and send (by mail or fax) an ACH Transfer form to HigherOne.If you choose this option, your refund will be deposited in your bank account within 2-3 business days after Saddleback sends the funds to HigherOne.

Paper Check
You may request to have your financial aid refund/disbursement issued in a paper check. Visit saddlebackcard.higheroneaccount.com/ when you receive the card and select “Paper Check” during the activation process.

Checks are mailed by HigherOne to your address on file with Saddleback’s Financial Assistance Office within 5-7 business days after Saddleback College sends the funds to HigherOne.

There is no charge for receiving your refund/disbursement this way, although it will take longer to receive your check.

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